Tata Motors registered total sales of 2,43,387 units in Q2FY23

Girish Wagh, Executive Director, Tata Motors Ltd. said, “The commercial vehicles industry witnessed a consistent demand in Q2FY23. Tata Motors CV business registered a 20% growth in domestic sales over Q2FY22, recording sales of 93,675 units during the quarter. This growth was led by stronger sales of MHCVs and a robust recovery in passenger carriers demand. Improving fleet utilizations, pick up in road construction projects and increase in cement consumption catalysed the demand recovery for MHCVs. CV exports however shrunk sharply by 22% due to the economic situation in Sri Lanka and Nepal though it improved sequentially by ~30%. The recent exciting launches of the new range of smart trucks in MHCV and ILCV, and best-in-class pickups will help us serve our customers better. Going forward, while we expect a strong sales in the festive season we will maintain a close watch on the evolving geopolitical, inflation and interest rate risks on both the supply and demand.“

Domestic sale of MH&ICV in Q2 FY23, including trucks and buses, stood at 38,143 units, compared to 29,401 units in Q2 FY22.

Total sales for MH&ICV Domestic & International Business in Q2 FY23, including trucks and buses, stood at 40,556 units, compared to 33,737 units in Q2 FY22.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “The PV industry witnessed strong demand during Q2FY23 fuelled by the festive season and new launches. Tata Motors scaled new highs in passenger vehicles with sales of 142,325 units during the quarter, recording a growth of ~70% versus Q2FY22. The company also attained its highest ever monthly sales of 47,654 in Sep’22, posting 85% growth versus Sep’21. Led by record setting sales of Nexon and Punch, SUV sales contributed a rich ~66% of the quarterly PV sales. In electric vehicles, the company once again posted record-breaking sales of 11,522 units in Q2FY23, registering a growth of 326% versus Q2 FY22. With the recent launch of the Tiago EV, the company has opened new vistas and is poised to drive the mass adoption of EVs across the country. Going forward, we expect the festive season will witness strong retails on the back of improving supply of vehicles.”